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California Lawmakers Unveil Plans To "Modernize" Film & TV Tax Incentive Program Via Expanding Eligible Projects, Upping Credit To 35% In LA — Update

Source: Deadline Hollywood

The California Legislature has acknowledged that money alone might not be enough to entice production back to the state, introducing a pair of bills Wednesday aimed at bolstering Gov. Gavin Newsom's plan to expand the state's Film and Television Tax Credit Program.

The bills, sponsored by state Sen. Ben Allen and Assembly members Rick Chavez Zbur and Isaac Bryan, are meant to "amend, update, and modernize" the current program beyond Newsom's commitment to increase the tax credits from their present level of $330 million a year to around $750 million annually.